Got A Bit Of Spare Cash This Month? Invest It!

Spare cash is a wonderful thing to have. It means you’ve budgeted super well this week, and you’re now reaping the reward of having a good handle on your money. And whilst you might be tempted to treat yourself or the family to a takeaway or dinner at a restaurant, we think you should try investing this money instead. 

After all, building an investment portfolio can turn that bit of spare cash into big money in five or ten years’ time! But seeing as you’ve only got a small amount of money to ‘play with’, you need an investment solution that can work with this.

Download an Investment App

You’ve probably seen a wealth of these before, as they probably pop up every time you visit the app store! Why not download one sometime this week and see if you can put your spare cash in there for long term gains? After all, investment apps do most of the work for you. 

All you have to do is choose your risk level and then put some money in the pot! And there are new apps coming out all the time so you can really take your pick and find the fund, stocks, or shares that work best for you. Take your time, do a bit of research, and make sure the cash you’re putting in can be left to do its work over a good period of time. 

Buy Bullion

This might sound like a bit of an old idea, but bullion is still very valuable in 2024. You can buy silver bullion in a small amount with the spare cash you’ve got right now and watch the price grow over the next two to three years. Of course, gold bullion is the most obvious choice, but there are various other valuable metals on the market as well that deserve a look. 

If you’re worried about wasting your spare cash here, you can even track the price of a gram as it goes up and down in real time. And remember, you don’t need to panic if things look low for a little while; people have always valued metals like these. 

Keep Some For Your Savings Account

If you’ve got a savings account with a healthy interest rate, it’s worth it to put some of your spare cash in there, just in case of a rainy day sometime in the near future. You never know when an emergency is going to strike, and whilst the money is there waiting for you to use it, it’ll generate a few extra pennies per month as well. And with the current cost of living crisis, your savings account is likely to deserve a bit of padding this year! 

If you’ve got some spare cash this month, these are the ideas for you. You’ve got a lot of options for investing money; if you don’t need it right now, put it somewhere it has the chance to double or triple! 

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